Share Market Updates-23-June-2016

Indian Market Flat opening on the cards ahead of Brexit vote

Indian Indices:

Indian equity benchmarks are likely to open little changed as traders tread a cautious path ahead of the EU referendum today. SGX Nifty is trading at 2.50 points up.

Indian shares fell today, heading for their 2nd straight session of falls, a day ahead of the Brexit referendum, while Tata Motors declined on worries that its unit JLR would be hit if Britain leaves the European Union. The S&P BSE Sensex and CNX Nifty fell 0.18%-0.20% each.

On Wednesday (June 22, 2016), BSE SENSEX closed at 26765.65, down by 47.13 points, or by 0.18%, and the NSE Nifty ended at 8203.70, down by 16.20 points, or by 0.20%.

Global Market:

Asian shares edged up and sterling stood close to its peak for the year on Thursday, as investors were cautiously optimistic that British voters would opt to remain in the European Union at a referendum later in the session.

European shares rose on Wednesday, but ended off highs as results of a poll rekindled concerns that Britain may leave the European Union hours before voting in the country's membership referendum starts.

U.S. stocks finished slightly lower on Wednesday, as polls showed the outcome of a U.K. referendum on whether to leave the European Union remained too close to call a day ahead of the vote.

Major Headlines of the day:

• GAIL awards Rs 550-cr contracts for 'Urga Ganga' pipeline

• Ramco to set up wholly-owned subsidiary in Philippines

• MTNL to submit revival plan to DoT by August

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